Ward Distribution Company has determined its December 31 inventory on a LIFO basis at $200,000. Information pertaining to that inventory follows: Estimated selling price $204,000 Estimated cost of disposal 10,000 Normal profit margin 30,000 Current replacement cost 180,000 Ward records losses that result from applying the lower-of-cost-or-market rule. At December 31, the loss that Ward should recognize is O $20,000 O $14,000 O $0 O $6,000

Question

05-12-2022
Business

Answered

Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Join our Q&A platform and connect with professionals ready to provide precise answers to your questions in various areas. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Ward Distribution Company has determined its December 31 inventory on a LIFO basis at $200,000. Information pertaining to that inventory follows: Estimated selling price $204,000 Estimated cost of disposal 10,000 Normal profit margin 30,000 Current replacement cost 180,000 Ward records losses that result from applying the lower-of-cost-or-market rule. At December 31, the loss that Ward should recognize is O $20,000 O $14,000 O $0 O $6,000

Sagot :

We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.

The 1862 battle at Antietam put an end to A. the military career of Stonewall Jackson. B. the Confederate threat to the Union capital. C. the Civil War’s early

Which played the most significant role in the development of agriculture by Neolithic people? A bronze tools B Long Distance Trade C The domestication of animal

How did agricultural development influence the locations of emerging civilizations and the jobs of people who lived there?

At its heart, the Scopes Trial was a clash between a. biology and science. c. evolution and science. b. education and science. d. religion and science. .

When neither gene in a genotype pair is dominant and neither gene is recessive, the genes are said to be _____. multiple alleles incomplete dominant alleles inc

Help on logarithmic equation

a book club has 200 members each member was asked whether he or she prefers fiction or nonfiction books the results are shown below

what is simple subject the saturn rocket made travel to the moon possible

Which group of people broke free of Egyptian rule, establishing the city of Meroe farther south along the Nile River? Arabs Hutu Kush Bantu

What was the source of Axum's prosperity in the fourth century CE? Its strategic location in the middle of African, Mediterranean, and Asian trade networks Its

NomulaHarsh NomulaHarsh · Answer 1 · 2022-12-18T10:00:15-05:00

Because the $180,000 market value is $20,000 lower than the $200,000 historical cost, the inventory should be valued at $180,000 and a $20,000 loss recognized.

What is market value?

The cost that an asset would fetch on the open market or the assessment that the financial community makes of a particular equity or company is known as market value, often known as OMV or "open market valuation."

Market value is another name for a publicly traded company's market capitalisation, which is calculated by dividing the quantity of outstanding shares by the current share price.

It is simplest to determine market value for exchange-traded products since their market values, such as those for stocks and futures, are well-known and accessible. However, determining market value for over-the-counter assets like fixed income securities might be more challenging.

to learn more about market value click:

https://brainly.com/question/28235912

#SPJ1

Sagot :

Other Questions